17 option
The company is considering the implementation of these investment projects.
IRR,% Volume of investments
(Mln. Rubles)
Project A 31 1500
The project in 1500 29
Project C 24700
Project D 25800
Project E 27800
The sources of investment financing are.
1.Kredit of $ 1.4 billion. Rub., The rate of 20% per annum;
2.Dopolnitelny loan of $ 800 million. Rub., The rate of 25% per annum;
3.Neraspredelennaya profit of $ 1.5 billion. Rub .;
4.Emissiya preferred shares, guaranteed dividend of 20% per annum, the cost of accommodation - 8% of the issue. The current market price of the preferred shares of RUB 1,000.
5.Emissiya ordinary shares. Expected dividend of 24 rubles. per share. The current market price of 100 rubles. The growth rate of dividends - 5% per year. The cost of placement of 10% of the issue.
The company adheres to the long-term target capital structure following:
Zaemny capital - 40%
Privilegirovannye shares - 10%
Sobstvenny capital - 50%.
To form an optimal program funding enterprise under these conditions.
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